EUR/USD DROPS FURTHER TO CHECK THE 1.0900 LEVEL ON US DOLLAR STRENGTH
Euro hits new highs versus US dollar and Swiss franc.
EUR/USD below the 20-SMA in four hours graph, next support at 1.0880.
The EUR/USD hit on a brand new everyday low at 1.0899 after breaking up the 1.0920 intraday service amid a stronger US dollar. The set bounced modestly, defending the 1.0900 area. As of writing, it trades at 1.0915down 50 pips for the day. It hit at 99.59, the maximum amount since Thursday. Equity prices in the US started reduced amid US-China tensions but over the last hours trimmed losses together with the Nasdaq in positive territory right now.
Economic data from the US came in worse than expected having no impact on the market. Factory Orders fell a record 10.3% during March, against expectations of a 9.7% slip. The ISM-NY Business conditions Index dropped from 12.9 to 4.3 in April. The key report of this week will be NFP on Friday. Concerning the euro, in addition, it published a new low throughout the American semester versus the Swiss franc. EUR/CHF trades in the lowest in per week in 1.0525.
Technical EURUSD outlook
The EUR/USD pair continues to escape from the one-month high it reached on Friday at 1.1018. The euro was rejected from above 1.1000 and lost over a hundred pips by the current top. Price is back below the 20-SMA in the four hours chart suggesting more weakness beforehand, that could spark more losses if it breaks certainly under 1.0900. A recovery above 1.0930/40 would remove the bearish intraday pressure. The upcoming critical support is observed at 1.0880.
EUR/USD OVERVIEW
Today Daily Change 0.0000
Today Daily Change percent 0.00
Today daily available 1.0981
TRENDS Daily SMA20 1.0876
Daily SMA50 1.0964
Daily SMA100 1.1007
Daily SMA200 1.1036
Daily High 1.1019
Past Daily Low 1.0935
Previous Weekly High 1.1019
Past Weekly Low 1.081
Previous Monthly High 1.1039
Previous Monthly Low 1.0727
Daily Fibonacci 38.2% 1.0987
Daily Fibonacci 61.8% 1.0967
Daily Pivot Point S1 1.0938
Daily Pivot Point S2 1.0894
Daily Pivot Point S3 1.0853
Daily Pivot Point R1 1.1022
Daily Pivot Point R2 1.1063
Daily Pivot Point R3 1.1106
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